Bankruptcy filings fall 35 percent in Minnesota

The number of bankruptcy filings is down 35 percent in Minnesota this year in comparison to the peak of filings in 2010, Minnesota Public Radio reports.

Bankruptcy expert Melissa Jacoby with University of North Carolina at Chapel Hill, tells MPR the lower amount of filings "are not necessarily aligned with either the overall economy and how well it's doing or the financial distress of people."

Another signal of the thinning amount of filings is a smaller demand for bankruptcy lawyers, Jacoby says.